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BULLETIN: Mirant's Acquisition Bid For NRG Energy Does Not Affect Ratings
Standard & Poors, June 2006
Abstract
NEW YORK (Standard & Poor's) June 1, 2006--Standard & Poor's Ratings Services said today that Mirant Corp.'s (B+/Stable/--) recently announced unsolicited bid to acquire NRG Energy Inc. ('B+/Stable' long-term rating; 'B-2' short-term rating on CreditWatch negative) for about $7.9 billion in cash and stock does not affect the current long-term ratings on Mirant and its rated subsidiaries. This transaction, if successful, would involve two companies with equivalent ratings that already incorporate financial capacity to pursue speculative investment. Therefore, if the transaction is consummated in accordance with Mirant's public description of its terms, it is unlikely that either Mirant's or NRG's current long-term ratings will be affected. This initial assessment could change as the proposed capital structure for the acquisition evolves....
Companies mentioned in this report are: Mirant Corp.,NRG Energy Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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